Passenger Information System Market Size, Share, Growth Analysis, By Offering(Solutions, and services), By Location(On-board, in-station), By Transportation Mode(Railways, Roadways, and Airways & Waterways), By Region - Industry Forecast 2024-2031

Drivers

Increasing Demand for Smart Transportation  

• Smart public transportation systems are particularly customer-oriented, so they effectively help people navigate across the city rather than causing stress by being late or under different conditions. In addition, PIS is one of the core components in intelligent transportation systems, which integrate the respective data from different sources. Thus, informative passenger systems are likely to promote the market in the future.  

Urbanization and Smart City Initiatives  

• According to research conducted by United Nations research, more than 60% of the world population is expected to live in cities by 2050. Cities are pushed to deploy smarter and more efficient technology because of the rising complexity and demand in urban transportation networks. The use of passenger information systems is closely related to controlling real-time data and linking urban transport systems to improve passenger convenience and operational efficiency.  

Restraints 

High Costs Associated with Implementing and Maintenance of Passenger Information Systems  

• The total cost incurred in the establishment and maintenance of a PIS system is a setback to the growth of the PIS market. The implementation cost includes the cost incurred in the design of the system, and the cost of acquiring and installing the equipment required for the system to work. While the maintenance costs include the total cost of all the inputs required in the operation as well as the maintenance of the real time PIS solutions and services. These costs add up to increase the price burden of the consumers.  

Difficulty of Integrating Passenger Information Systems in Legacy Infrastructure and Communication Systems  

• Legacy systems refer to outdated computer software and hardware that organizations use even after they have modern technologies. Most of these systems do not have a configuration to deal with many of the developed smart devices and modern communication networks. The PIS market vendors find challenges in integrating the legacy systems with the different smart public transportation ecosystem components.